Skip to Primary Navigation

FINRA disciplinary action update #32

Montage of person walking by the FINRA sign.
GRIP Montage: Getty Images

Disciplinary decisions issued September 29 – October 5, 2023.

Maxim Group censured and fined for alleged AML failings

The firm’s procedures were inadequate in ensuring compliance with Section 5 of the Securities Act. Account reviews were only conducted when customers deposited securities at the firm. Low-priced security transactions traded through Delivery versus Payment / Receive versus Payment (DVP/RVP) accounts